Islamabad: SECP moves court against brokerage house
ISLAMABAD: Hearing the criminal complaint filed by the Securities and Exchange Commission of Pakistan (SECP) against Cliktrade Limited, the Karachi South Session Judge issued arrest warrants against all the eight accused here Thursday, The Nation reported Friday. Quoting Media Coordinator SECP, Rabnawaz, the daily reported that the regulator had filed the complaint against the former member of the Karachi Stock Exchange (KSE) for not transferring shares/funds and for its unauthorised pledges of clients’ shares and involvement in other prohibited activities. Rabnawaz said that the case was registered under Section 24 (2) of the Central Depositories Act, 1997 as well as offences under relevant provisions of the Pakistan Penal Code (PPC). The SECP had suspended the registration of Cliktrade on June 26, 2009, following receiving number of complaints.